Posted by : Aahil Shaik Sunday, June 2, 2024

Saudi Aramco's $12 Billion shares sold out within few Hours

Shortly after the offer opened on Sunday, the $12 billion share sale by Saudi Aramco quickly sold out, providing a important boost to the government's economic transformation efforts, according to Bloomberg. Most Viewed : Air Taxis and Drones to benefit Hajj 2024 pilgrims

Within few hours after the books opened, the government had demand for all of the shares that were on offer. Books were available for as little as 26.70 riyals and as much as 29 Saudi Riyals.

- The Saudi Arabian government and Saudi Aramco announced last Thursday that the company's ordinary shares will be available for purchase in a secondary public offering.

- Approximately 0.64% of the total issued shares of the company, or 1.545 billion shares, are part of the offering. Recommend : Over 20,000 visitors penalized for violating Hajj regulations

- Participation in the offering is extended to eligible retail investors in Saudi Arabia and other GCC nations, as well as qualified institutional investors outside of Saudi Arabia. Offerings made outside of the UK will be in accordance with US Securities Act of 1933, Section S, as revised.

- Assuming there is enough demand, retail investors will receive 154.5 million shares, or 10% of the overall offer. See Also : Like and Follow Saudi Expats News on Facebook

Saudi Aramco's $12 Billion shares sold out within few Hours -
Saudi Aramco's $12 Billion shares sold out within few Hours

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